Press release
Autopilot System Market: Stellar Growth in Market Cap to Reach $7.98 Billion by 2029, Driven by AI Advancements and Industry-Wide Trends
Autopilot System Market
Navigating the future of aviation safety and efficiency, the autopilot system market is set for remarkable growth, powered by key players, technological advances, and rising global demand for air travel.
What Is The Projected Market Size Of The Global Autopilot System Market And Its Growth Rate?
• The autopilot system market will grow from $5.61 billion in 2024 to $5.98 billion in 2025, marking a CAGR of 6.6%. This growth in the historic period is owing to aviation safety advancements, airline industry growth, regulatory standards and compliance, enhanced aircraft performance, and the rise of commercial aviation.
• The market is projected to accelerate and reach $7.98 billion in 2029, showcasing a CAGR of 7.5%, with drivers including the growing demand for passenger safety, integration with next-gen aircraft, focus on fuel efficiency, regulatory compliance updates, and advancements in AI and machine learning.
What Is Driving The Growth In The Autopilot System Market?
As air traffic continues to grow, the demand for autopilot systems also increases. An increase in the number of air passengers, both for business and leisure, particularly post-COVID-19 lockdown, has spurred the requirement for automated assistance in air traffic control. A report released in May 2022 by the International Civil Aviation Organization (ICAO) noted a 65% increase in the number of passengers carried by air from January to April 2022 compared to April 2021, with the number of aircraft flight departures also increasing by 30%. Such trends highlight the necessity of robust autopilot systems, propelling the autopilot system market.
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Who Are the Key Players Driving Autopilot System Market Growth?
• Rockwell Collins Inc.
• BAE Systems plc
• Cloud Cap Technology Inc.
• Furuno Electric Co. Ltd.
• Garmin International Inc.
• Genesys Aerosystems Group Inc.
• Honeywell International Inc.
• Micropilot Inc.
• Raymarine Ltd.
• Moog Inc.
• Safran SA
• Parker Meggitt plc
• Lockheed Martin Corporation
• Century Flight Systems Inc.
• Cobham Limited
• TMQ International Pty. Ltd.
• Thales Group
• Avidyne Corporation
• Dynon Avionics
• SEA MACHINES Robotics Inc.
• West Marine
• Kobelt Manufacturing Co. Ltd.
• Comnav Marine Ltd.
• Brunswick Corporation
• Octopus Autopilot Drives systems
• Trimble Navigation Limited
• Raytheon Anschütz GmbH
• The Mercedes-Benz Group AG
What Are The Key Trends In The Autopilot System Market?
• Software and firmware upgrades
• Focus on redundancy and safety
• Advanced unmanned aerial vehicles (UAVs)
• Human-machine interface innovation
• Enhanced sensor technology
What Are The Segments Of The Global Autopilot System Market?
• By System: Attitude And Heading Reference System, Flight Control System, Flight Director System, Avionics System
• By Product Type: Rotary Wing Aircraft, Fixed Wing Aircraft
• By Platform: Airborne, Sea, Subsea, Land-Based
• By Application: Military, Defense, Commercial
Which Region Leads The Autopilot System Market?
North America led the autopilot system market in 2024, while Asia-Pacific is expected to be the rapidly growing region during the forecast period. Other regions covered in the report are Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Autopilot System Market Global Market Report?
- Market Size Analysis: Analyze the Autopilot System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Autopilot System Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Autopilot System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Autopilot System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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